Financial Innovations in International Business

  • Credits: 4
  • Ending: Examination
  • Range: 2C
  • Semester: winter
  • Year: 2
  • Faculty of Commerce

Teachers

Included in study programs

International Business

Teaching results

Students will possess following abilities:
- Getting acquainted with the issue of financial innovations in international business and their impact on the development of international trade and the international financial market;
- Ability to understand the importance of financial innovation for the advancement of international trade;
- Ability to understand the advantages, disadvantages, benefits and risks of financial innovation in the context of current historical and current developments in international financial markets;
- Getting acquainted with the perspectives of the use of financial innovations in the form of cryptocurrencies.
Students will obtain following skills:
- Orientation in the constantly advancing sector of financial innovation;
- Carry out analyzes of innovative financial products, the ability to point out their advantages, disadvantages, benefits and risks at both microeconomic and macroeconomic levels;
- Ability to apply financial innovations in practice, whether in the field of international trade management or financial management.

Students will gain following competences:
- In accordance with the graduate profile, the ability to make independent and responsible decisions in a changing international financial environment;
- Perceive, anticipate the benefits and risks of financial innovation;
- Identify, assess and correctly interpret financial innovations related to international trade;
- Identify appropriate financial innovations related to the implementation of international trade and propose an appropriate strategy for their use.

Indicative content

The position of financial innovations in the history of the development of financial markets and international trade. Pointing out the position of financial innovations in financial crises. The importance of ICT in the development of financial markets. Fintech boom. Characteristics of cryptocurrencies and the cryptocurrency market. Analysis of benefits and risks associated with the implementation of cryptocurrencies in financial markets and in international trade. Analysis of Bitcoin, Litecoin, Etherea and other altcoins. Aspects of cryptocurrency trading. Current trends in the use of cryptocurrencies. Cryptocurrency market in Slovakia. The future of financial markets and international trade using cryptocurrencies.

Support literature

TKÁČOVÁ, Daniela, Jaroslav BELÁS, Eva HORVÁTOVÁ, Božena CHOVANCOVÁ a Viera MALACKÁ. Finančné trhy a bankovníctvo. Praha: Wolters Kluwer, 2017, 310 s. [20,1 AH]. ISBN 978-80-7552-528-4.
CHOVANCOVÁ, Božena, Viera MALACKÁ, Valér DEMJAN a Jana KOTLEBOVÁ. Finančné trhy: nástroje a transakcie. 2. preprac. a dopl. vyd. Bratislava: Wolters Kluwer, 2016, 664 s. [35,25 AH]. Ekonómia, 583. ISBN 978-80-8168-330-5.
HOSP, Julian. Kryptomeny. Tatran, 2018, 172 s. ISBN 9788-80-2220-945-8.
TANDA, Alessandra, SCHENA Cristiana-Maria, 2019, FinTech, BigTech and Banks: Digitalisation and Its Impact on Banking Business Models (Palgrave Macmillan Studies in Banking and Financial Institutions) 1st ed. 2019 Edition. Springer International Publishing, https://www.amazon.com/FinTech-BigTech-Banks-Digitalisation-Institutions/dp/3030224287
SIRONI, Paulo. 2016. FinTech Innovation: From Robo-Advisors to Goal Based Investing and Gamification (The Wiley Finance Series) 1st Edition. Chichester : Wiley. https://www.amazon.com/FinTech-Innovation-Robo-Advisors-Investing-Gamification/dp/1119226988
LEE, David Kuo Chuen, LOW, Linda. 2018. Inclusive Fintech: Blockchain, Cryptocurrency And Ico. Singapore : World Scientific Publishing Co Pte Ltd. https://www.amazon.com/Inclusive-Fintech-Blockchain-Cryptocurrency-Ico/dp/9813272767

Syllabus

1. Introductory lecture, course requirements, introduction to financial innovations and theoretical background. 2. Financial innovations in the context of the historical development of financial markets and international trade. Specific examples of significant financial innovations that have contributed to the development of financial markets and international trade. 3. Financial innovations and their position in the context of financial crises. 4. Electronization of financial markets, position and importance of ICT, fintech innovation - alternative payment methods, algorithmic trading, robotization of the financial sector, artificial intelligence and big data, cloud solutions. 5. Cryptcurrencies, their characteristics and history. Characteristics of the potential of blockchain technology in international trade. Benefits and risks of cryptocurrencies. 6. Bitcoin as the world's major cryptocurrency, its characteristics and analysis. Analysis of bitcoin price development and analysis of factors influencing its price. The current position of bitcoin in international trade and the potential of its use. 7. Litecoin and Ethereum as the most important cryptocurrencies after Bitcoin. Their characteristics and contribution in the international financial environment, the development of the price and its determinants. 8. Altcoin markets. Characteristics of the most important Altcoins with a focus on those that can be used in international trade relations. 9. Trading with cryptocurrencies. An overview of the most important cryptocurrency exchanges. Aspects of cryptocurrency trading. 10. Current trends in the use of cryptocurrencies, ways of their practical use. 11. Cryptocurrency market in Slovakia. 12. Practical aspects of the use of cryptocurrencies. The use of cryptocurrencies from the perspective of a company operating in international trade, the position of cryptocurrencies in the company's accounting. 13. The future of international business using financial innovation. Possibilities of using cryptocurrencies, obstacles to their introduction. The position of the traditional financial sector and governments on the use of cryptocurrencies. Cryptocurrencies and legislation.

Requirements to complete the course

20% semester work
20% participation in seminars
60% final exam

Student workload

Total: study load 4 credits x 26 h = 104 hours
Separate study load for individual educational activities:
Attendance at seminars: 26 hours
Preparation for the seminars: 17 hours
Elaboration of a semester project: 20 hours
Preparation for written verification of knowledge: 17 hours
Preparation for the final exam: 24 hours

Language whose command is required to complete the course

Slovak, English

Date of approval: 06.03.2024

Date of the latest change: 19.01.2022